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What Is The Leading Driver Behind Internet of Things (IoT) Devices Fueling Expansion of Data Compression Software Market Market Expansion in 2025
Data Compression Software
Data Compression Software Market Size Growth Forecast: What to Expect by 2025?
The market size for data compression software has seen substantial growth in the past few years. This market is set to expand from $1.11 billion in 2024 to $1.19 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. Factors contributing to this growth in the historical period range from increased smartphone usage, the growing volume of data production, enhanced internet access, the need for effective data storage and transfer, to financially viable options for data management.
How Will the Data Compression Software Market Size Evolve and Grow by 2029?
Anticipations suggest a robust increase in the data compression software market size in the upcoming years. The market valuation is forecasted to reach $1.56 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 7.0%. Various factors driving this growth could be the ongoing digital transformation, swift industrialization, booming e-commerce sector, escalating demand for data protection and optimization from the public, and heightened research and development endeavors. Significant trends predicted in this period involve technological advancements, the introduction of groundbreaking technologies, integrating superior security measures, progression in compression methods, and the use of cloud-based compression techniques.
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What Drivers Are Propelling the Growth of Data Compression Software Market Forward?
Anticipated acceleration in the implementation of Internet of Things (IoT) devices will likely bolster the rise of the data compression software industry. IoT devices are interconnected devices furnished with sensors, software, and network connectivity, which empower them to collect and exchange information, thereby enhancing smart and automated functionalities for a range of applications. With advancements in data compression technology, the number of IoT devices is expanding, as these devices adeptly transmit and store large data volumes. Data compression software is utilized by IoT devices to optimize bandwidth usage and diminish data transmission overhead, a crucial component for effective communication within resource-constrained networks. In a report released by Ericsson, a telecommunications firm based in Sweden, in September 2022, worldwide IoT connections had reached 13.2 billion in 2022, and were projected to rise 18% to 34.7 billion connections by 2028. As a result, the growing adoption of IoT devices is propelling the advancement of the data compression software market.
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Which Emerging Trends Are Transforming the Data Compression Software Market in 2025?
Prominent entities in the data compression software market are concentrating on the creation of inventive solutions, such as video compressor software, to cater to the growing demands for data proficiently. Video compressor software is an application intended to decrease the size of a video file without considerably undermining its quality. To illustrate, in May 2024, Cisdem, a software firm based in China, introduced its product, the Cisdem Video Compressor. This is a video compressor developed for Windows that encompasses dynamic media compression attributes. The software enables its users to downsize video and audio files by modulating various factors, thus maintaining the quality while reducing the overall file size. It includes a feature where it can compress multiple files simultaneously, presenting a user-friendly interface promoting various settings and alternatives for compression. The software aims to reduce the size of files in an effective manner without compromising on the media quality.
What Are the Key Segments in the Data Compression Software Market?
The data compression softwaremarket covered in this report is segmented -
1) By Type: Lossless Compression, Lossy Compression
2) By Service: Professional Service, Support And Maintenance Service
3) By Deployment: Cloud, On-Premise
4) By Vertical: Banking, Financial Services, And Insurance (BFSI), Retail, Healare, Information Technology (IT) And Telecommunication, Government, Travel And Hospitality, Transportation, Media And Entertainment, Manufacturing, Media And Entertainment, Manufacturing, Other Verticals
Subsegments:
1) By Lossless Compression: Run-Length Encoding (RLE), Huffman Coding, Lempel-Ziv-Welch (LZW), Arithmetic Coding
2) By Lossy Compression: Transform Coding, Predictive Coding, Fractal Compression, Wavelet Compression
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Who Are the Key Players Shaping the Data Compression Software Market's Competitive Landscape?
Major companies operating in the data compression software market are Google LLC, Microsoft Corporation Inc., Meta Platforms Inc., International Business Machines Corporation, Oracle Corporation, Broadcom Inc., SAS Institute Inc., NortonLifeLock Inc., Qihoo 360 Technology Co Ltd., Exasol AG, Corel Corporation, PeaZip, Tegile Systems Inc., Smith Micro Software Inc., PKWARE Inc., PowerArchiver, Osisof LLC, Wandera Inc., NCH Software Pty Ltd., Quortus Telecommunications, Otello Corp ASA, Panoratio Database Images Gmbh, WinRAR, 7-Zip, Bandisoft International Inc.
What Geographic Markets Are Powering Growth in the Data Compression Software Market?
North America was the largest region in the data compression software market in 2024. The regions covered in the data compression software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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